Economy & Market

Cemex reports cash profits

Published

14 years ago

October 31, 2011

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Cemex’s American depositary rec-eipts rose 2.8 percent to $3.70 at 11:40 a.m. in New York, after increasing as much as 7.8 percent earlier. The Monterrey, Mexico-based company’s stock has dropped 65 percent this year.Cemex’s net loss compared with $89.3 million, or 9 cents, a year earlier. Analysts expected a loss of 29 cents, the average of six estimates compiled by Bloomberg. The loss was caused mostly because of a $217 million foreign-exchange loss and a loss of $339 million related to equity derivatives on Cemex’s shares, the company said. The company hasn’t had a profit for eight straight quarters. Its earnings tumbled amid a U.S. construction recession after the $14.2 billion acquisition in 2007 of Rinker Group Ltd., which got more than 80 percent of sales in the U.S. Cemex struggled to meet debt payments following a global credit crunch and got a $15 billion bank loan in August 2009 to avoid default. Sales rose 5.4 percent to $3.97 billion, the fourth consecutive quarter of sales growth. The average analyst estimate was $3.94 billion. The peso’s value against the dollar declined 13 percent during the quarter, reducing the value of Cemex’s results in the U.S. currency. Sales in northern Europe rose 9.4 percent to $1.3 billion and operations in south and central America climbed 24 per.

Concrete

WCA Welcomes SiloConnect as associate corporate member

Published

12 hours ago

April 13, 2026

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The World Cement Association (WCA) has announced SiloConnect as its newest associate corporate member, expanding its network of technology providers supporting digitalisation in the cement industry. SiloConnect offers smart sensor technology that provides real-time visibility of cement inventory levels at customer silos, enabling producers to monitor stock remotely and plan deliveries more efficiently. The solution helps companies move from reactive to proactive logistics, improving delivery planning, operational efficiency and safety by reducing manual inspections. The technology is already used by major cement producers such as Holcim, Cemex and Heidelberg Materials and is deployed across more than 30 countries worldwide.

Concrete

TotalEnergies and Holcim Launch Floating Solar Plant in Belgium

Published

12 hours ago

April 13, 2026

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TotalEnergies and Holcim have commissioned a floating solar power plant in Obourg, Belgium, built on a rehabilitated former chalk quarry that has been converted into a lake. The project has a generation capacity of 31 MW and produces around 30 GWh of renewable electricity annually, which will be used to power Holcim’s nearby industrial operations. The project is currently the largest floating solar installation in Europe dedicated entirely to industrial self-consumption. To ensure minimal impact on the surrounding landscape, more than 700 metres of horizontal directional drilling were used to connect the solar installation to the electrical substation. The project reflects ongoing collaboration between the two companies to support industrial decarbonisation through renewable energy solutions and innovative infrastructure development.

Concrete

Cortec® Corporation applauded for its strong safety performance

Published

12 hours ago

April 13, 2026

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Cortec® Corporation has been recognised for its strong safety performance, receiving its sixth Governor’s Workplace Safety Award for its outstanding performance in 2025. As a Silver Achievement recipient, the company continues to maintain safety metrics well above national industry averages, an impressive accomplishment for a chemical manufacturing organisation. This achievement reflects Cortec’s proactive approach to workplace safety, focused on early hazard detection and employee involvement. The company will be formally recognised at the Minnesota Safety and Health Conference in May, highlighting how industrial companies are effectively strengthening workplace safety standards.